Prior to the launch of THAIFEX - World of Food Asia event, officials from Wakayama prefecture, Japan, led delegates from 17 key companies to attend their first business networking session in Thailand. The Japanese companies invited on this occasion are mostly in the food, jewelry, education, and Japanese restaurant categories.
The Department of Foreign Trade (DFT), Ministry of Commerce, has invited entrepreneurs from the Thai Chambers of Commerce and the Federation of Thai Industries to join this business networking session, promoting the expansion of Thai product sales in Wakayama, which is another local market in Japan with good potentials, in addition to current key markets.
The session also served as a networking platform promoting international trade and investment, providing opportunities for Thai business persons to learn from experiences from Japanese companies and adapt their with their product manufacturing. The DFT will be taking Thai business persons to Wakayama to further explore trade opportunities, and will use this "Wakayama Model" to further enhance trade relations with other cities in Japan, helping increase both countries’ trade and investment values.
Thailand and Japan in 2018 have mutual trade value at some 60 billion US dollar, while Japan is the country with the highest investment promotion request filed with the Board of Investment of Thailand, considered 32 percent of total investment projects from foreign countries.
